LIC launches Samridhi Plus under Ulip portfolio

MUMBAI: Life Insurance Corporation of India today launched 'Samridhi Plus' under its unit linked portfolio offering insurance protection, safety and growth.

Samridhi Plus safeguards policyholders' investment from market fluctuations, LIC said in a statement here.

Accident benefit option is also available under this plan that will be equal to the life cover up to a maximum of Rs 50 lakh, subject to certain conditions.

The policy term for the plan is fixed for 10 years, it said.

The minimum age at entry level for Samridhi Plus is 8 years while the maximum age is 65 years.

The minimum premium ranges from Rs 1500 (monthly - ECS) to Rs 30,000 (single premium) depending on the mode of payment while the maximum is Rs 1 lakh per annum under any mode for the 5 year premium paying term.